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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    200 billion Iraqi dinars were exchanged for Iranian tomans during the Arbaeen visit

    Rocky
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    • Post n°1

    200 billion Iraqi dinars were exchanged for Iranian tomans during the Arbaeen visit Empty 200 billion Iraqi dinars were exchanged for Iranian tomans during the Arbaeen visit

    Post by Rocky Sun 10 Sep 2023, 10:21 am

    200 billion Iraqi dinars were exchanged for Iranian tomans during the Arbaeen visit

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    Economy News - Baghdad
    Economist Ali Daadoush estimated the number of visitors who obtained dinars at about 2 million Iranians, pointing out that the total amount exchanged was 200 billion dinars, and this amount was pumped into local markets.
    Daadoush said in a statement to Al-Iqtisad News, “The Iranian Central Bank had announced earlier that anyone who wants to go to the Arbaeen pilgrimage can exchange the Iranian toman for the Iraqi dinar at a subsidized price, and the maximum amount is approximately 100 thousand dinars, knowing that every (32) ) Toman = 1 Iraqi dinar,” pointing out that “the Central Bank of Iran informed us of the support for this measure and replaced the toman with a minus price of 7, thus becoming 25 toman = 1 Iraqi dinar.”
    He added, "The number of visitors who came to visit Arba'een amounted to about (3) million visitors," noting, "If we estimate the number of those who received dinars at about (2) million Iranians, the total of what was exchanged is 200 billion dinars, and this amount was pumped into the local markets." .
    He stated that "pumping such an amount in less than a month means an increase in the general price level on the one hand, and pressure on the cash dollar upon reaching the cash cycle on the other hand, which deepens the rise in the dollar exchange rate in the parallel market."
    He pointed out that "an increase in the dinar in circulation leads to a reduction in the issuance of new cash by the Central Bank of Iraq when the process of sterilizing the dollar is carried out by the Ministry of Finance. On the other hand, the pumping of the dinar by the Iranian side means an increase in the number of workers from various professions in the unorganized economy, which constitutes approximately (70%) of the size of the total economy.”


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